An exercise for the libertarians

[RCG Trader]

Quote from Ricter:

But, which is the greater good... private property, or a free market? I thought this was an interesting article because it seems to show the two at odds with one another.

<iframe width="420" height="315" src="http://www.youtube.com/embed/Xa6c3OTr6yA" frameborder="0" allowfullscreen></iframe>

 

[Epic]

Quote from Ricter:

But, which is the greater good... private property, or a free market? I thought this was an interesting article because it seems to show the two at odds with one another.

I disagree. It is easy to argue that almost everyone would be better served by free market in this case. There is a very small group of individuals benefiting from such export restrictions. I would argue that the producers of such raw materials are actually experiencing a reduction in property rights. The government is not allowing them to produce and sell their product as they see fit. So this is an perfect example of free market restrictions eliminating private property.

It is exactly this type of government interference that makes products too expensive for impoverished nations. If higher standard of living is the definition of wealth, then such policies are obvious destroyers of global wealth.

 

[Mercor]

Quote from denner:

I'm interested in knowing what Dave101010101 has to say about the matter.

Rictor creates alias's to debate so he can finally win arguments.
AK-47 turns out to be a Democratic racist, in the old Democratic Southern way.

Is this a new core meltdown from the left. It happens once or twice a year. We loose the whole left side and have to wait for the new leftist to show up.

 

[Ricter]

Quote from Epic:

I disagree. It is easy to argue that almost everyone would be better served by free market in this case. There is a very small group of individuals benefiting from such export restrictions. I would argue that the producers of such raw materials are actually experiencing a reduction in property rights. The government is not allowing them to produce and sell their product as they see fit. So this is an perfect example of free market restrictions eliminating private property.

It is exactly this type of government interference that makes products too expensive for impoverished nations. If higher standard of living is the definition of wealth, then such policies are obvious destroyers of global wealth.

Good answer. I'll only add that the Chinese mining companies probably do not actually own the minerals, but only the right to mine them. A right that is granted by the government [no doubt with fine print].